"Science and Technology Innovation Board Daily" news on October 18th (Reporter Zhang Yangyang Editor Zheng Yuanfang) Reporters from "Science and Technology Innovation Board Daily" learned from various sources that the relevant national department plans to establish a dedicated bureau for the low-altitude economy.

One informant told reporters of "Science and Technology Innovation Board Daily" that the establishment of the low-altitude economy dedicated bureau has been approved and is currently being prepared. The above-mentioned person stated that the establishment of a dedicated unit is more important in adapting to the development needs of new quality productivity and can better coordinate resources at all levels to promote industrial development.

In fact, experts in the low-altitude economy field have previously suggested that the relevant national departments should consider setting up a dedicated "low-altitude economic bureau" to accelerate the high-quality development of the low-altitude economy. This proposal aims to promote innovative integration in the low-altitude economy field through top-level policy design and address the many challenges facing the current development of the low-altitude economy.

According to the statistics of China Galaxy Securities, the low-altitude economy industry chain is relatively long, including airframe, power system, fuselage institution, airspace management, airworthiness certification, low-altitude sensing, and low-altitude operation.

Since the Central Economic Work Conference in 2023 proposed to create a low-altitude economy strategic emerging industry, the low-altitude economy has been mentioned in central conferences and various government report documents. At this year's National Two Sessions, "actively creating new growth engines such as bio manufacturing, commercial aerospace, and low-altitude economy" was included in the government work report.

Subsequently, local governments have gradually refined the implementation. According to incomplete statistics, 29 provinces (regions, municipalities) in China have included the low-altitude economy in the government's work plan for 2024, with unprecedented progress. At the same time, localities are actively exploring possible commercial paths for the low-altitude economy, with some municipal governments trying to establish low-altitude industrial operation and investment companies, accelerating the commercial development of the low-altitude economy.

With the steady introduction of low-altitude economy policy planning across the country, some aspects have gradually implemented the bidding process.

GF Sec's report on October 14th pointed out that compared with the same period last year, the number of low-altitude economic-related project tenders has significantly increased.

According to the information from the government procurement network, the number of low-altitude economic-related tender notices issued by the government has shown a significant growth. In general, the cumulative number of tenders in the first 9 months of 2023 was 39, while the cumulative number of tenders in the same period of 2024 increased to 108. In terms of categories, the proportion of infrastructure projects increased from 23% in 2023 to 45% in the first 9 months of 2024, indicating that local governments are paying attention to infrastructure construction and providing significant demand support.

It is worth mentioning that the Ministry of Finance recently stated that it will study expanding the scope of special bond use to reasonably support infrastructure in the previously dark, strategic emerging industries, and promote the faster development of new quality productivity.

China Galaxy Securities believes that against the backdrop of stabilizing the foundation, opening up new tracks, and cultivating new economic growth drivers, both the central and local governments have shown a firm determination to develop the 'low-altitude economy'. As a representative of newly emerging quality productivity, the construction of low-altitude infrastructure is expected to receive scale support from this special bond issuance, and the industry development will take off, with great potential.

According to the estimate of the Civil Aviation Administration of China, the market size of the low-altitude economy in 2025 will reach 1.5 trillion yuan, and is expected to reach 3.5 trillion yuan by 2035, with a compound annual growth rate of 8.84% over 10 years.

Editor/Somer